A Christmas without Toys R Us has created "good news for everyone that could possibly sell toys," retail analyst Liz Dunn told CNBC on Monday.

Dunn, founder and CEO of Pro4ma, said retailers have been investing to take advantage of the newfound void in the toy market, which was created by the collapse of the legendary toy sellerand the closure of its more than 800 stores across the nation earlier this year.

"Target is out saying there's $100 billion up for grabs not just from Toys R Us but from all of these retailers that have gone out of business and closed their doors."

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People shop at the Toys R Us in New York.

Sears is another traditional retailing giant facing hard times. The corporation's shrinking footprint gives way for companies to capitalize on the soft-line and hard-line retail categories, Dunn said.

"I think, on the soft-line side, Macy's has good overlap with Sears and TJX also has strong overlap," she said. "On the hard-line side I think you're looking at Home Depot as being the biggest opportunity, as well as Walmart."

Companies and experts want to capitalize on what they see is the best consumer market in 10 years, which Dunn said has left some people nervous and the market skittish.

While every retailer won't benefit equally, she expects good consumer news for the holiday shopping season. The National Retail Federation projects holiday retail sales to touch $720 billion, a 4.8 percent jump from 2017.